Tuesday 28 June 2016

Utility

Utility is a measure of preferences over some set of goods and services. A good is something that satisfies human wants. Since one cannot directly measure benefit, satisfaction or happiness from a good or service, economists instead have devised ways of representing and measuring utility in terms of economic choices that can be measured. In the simplest sense, economists consider utility to be revealed in people's willingness to pay different amounts for different goods.

The investor may choose to utilize the ward bed him/herself. In such eventuality, the discount applicable to the investor is 30% of the gross ward bed rental per month (This is better than the 25% investment returns given for the ward bed). There would be no investment returns given during his/her period of stay.

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